Latest news with #RM160
Borneo Post
5 days ago
- Borneo Post
Father jailed 12 years, caned for trafficking 10-year-old daughter in Kuching
Based on the facts of the case, the victim was sent by his father to his friend's house in Matang and left her there. – Photo by Chimon Upon KUCHING (May 29): The Sessions Court here today sentenced a 48-year-old man to 12 years in prison and four strokes of the cane for allowing his 10-year-old daughter to be sexually abused by his friend in exchange for RM160. Judge Iris Awen Jon handed down the sentence after finding the accused guilty at the end of the defence case. He was charged under Section 31(1)(b) of the Child Act 2001, punishable under Section 31 of the same Act, read together with Section 16 of the Sexual Offences Against Children Act 2017. In addition to the jail term and caning, the court also ordered the accused to undergo rehabilitation counselling and to be placed under police supervision for two years after completing his sentence. He committed the offence at a house in Matang in 2021. Based on the facts of the case, the victim was sent by his father to his friend's house in Matang and left her there. The accused's friend raped her inside the bathroom before the father returned to pick her up. The victim also saw his father receive RM160 in cash from the friend. At school, the victim told a teacher about the unfortunate incident before a police report was lodged. The accused was subsequently arrested, and investigations revealed that he had sent his child to his friend's house for sex trafficking. The trial saw eight prosecution witnesses and two defence witnesses. The case was prosecuted by Deputy Public Prosecutors Ruvinasini Pandian and Aiman Mutallib Mohammad Shariff, while the accused was represented by a council. daighter father jail Kuching sex-trafficking
The Star
7 days ago
- The Star
Johor engineer cheated of RM160,000 in non-existent investment scheme
KULAI: An engineer has fallen victim to a fraudulent investment scheme, losing more than RM160,000 of his savings to a syndicate promoting a non-existent stock trading platform that promised lucrative returns. Kulai OCPD Asst Comm Tan Seng Lee said the 30-year-old male victim lodged a police report on Tuesday (May 27) after realising he had been duped. 'The victim was lured by a scheme that promised returns of between 8% and 20% within just seven days. The suspect claimed that profits from the investment would be credited into the victim's account via an app called P3-DMA,' he said here on Wednesday (May 28). ACP Tan added the victim, enticed by the potential gains, then proceeded to make 11 transactions between April 3 and May 22 this year, transferring a total of RM169,500 into a local bank account believed to be linked to the syndicate. He said the victim later checked his P3-DMA account and saw a balance showing an alleged return of more than RM422,000. 'When he tried to withdraw the so-called profits, the suspect demanded an additional payment of RM80,000 in order to process the withdrawal. 'It was at this point the victim suspected he had been scammed and came forward to file a report,' he said, adding that the case was being investigated under Section 420 of the Penal Code. ACP Tan urged the public to exercise caution when offered investment opportunities that promise unrealistically high returns in a short period of time. 'We advise the public to verify the legitimacy of investment schemes and use official online services provided by the police commercial crime investigation department, such as the National Scam Response Centre (NSRC), CCID Infoline, and Semak Mule. 'Information on the latest scams is also regularly updated on the official Royal Malaysia Police Facebook page,' he added.
The Sun
19-05-2025
- Business
- The Sun
Malayan Flour Mills earmarks RM215 million for capital expenditure in FY25
KUALA LUMPUR: Malayan Flour Mills Bhd (MFM) has earmarked RM215 million for capital expenditure (capex) in the financial year ending Dec 31, 2025 (FY25) to expand its poultry integration and flour trading operations in Malaysia and Vietnam. The capex will be financed through a combination of internally generated funds and borrowings. Of the total, RM160 million will be allocated to the group's poultry integration (PI) segment. This includes RM100 million for the expansion and upgrading of farming infrastructure – such as construction of parent farms and hatcheries – in collaboration with its joint venture partner. The remaining RM60 million will be used to upgrade existing farms to enhance productivity and supply chain efficiency. Executive deputy chairman and managing director Teh Wee Chye said MFM is expanding its poultry business with government support because Malaysia still relies heavily on imported chicken and does not produce enough domestically to meet demand. 'For poultry integration, we are also working closely with the government. We see further upside in growth because poultry remains the most affordable source of protein,' he said at a press conference after its AGM today. Teh said MFM is partnering with Tyson Foods to modernise its farming operations, as around 60–70% of chicken coops in Malaysia still operate under open-house systems, which are increasingly vulnerable to climate change. 'Open houses tend to experience higher mortality rates, whereas closed, climate-controlled houses will definitely perform better.' MFM has completed the design and cost planning for the climate-controlled houses, which feature temperature control systems that are more efficient and better suited to extreme weather conditions. 'With the climate-controlled houses we have finalised in terms of design and costing, we believe this will result in better efficiency, particularly under harsher climate conditions,' Teh said. He highlighted the company's logistics advantage through having its own jetty, which enables bulk importation of poultry feed. 'This allows us to add value to the business, especially since we have our own jetty, enabling us to bring in combo shipments of corn and soya meal, and helping to reduce our cash conversion cycle,' he said. MFM's investment also extends to its flour and grain trading segment, which will receive RM55 million to expand capacity and enhance operational efficiency in key markets. This includes RM20 million for automation upgrades at MFM's flour mills in Lumut and Pasir Gudang to reduce manual labour, boost efficiency and ensure consistent product quality. In Vietnam, MFM plans to scale up operations with a total investment of RM34 million – comprising RM21 million for capacity expansion and operational upgrades at its northern Vietnam plant, and RM13 million for the ongoing construction of flour silos and blending facilities in the southern region. The RM55 million investment is jointly funded by MFM and its partners: RM20.4 million from MFM, RM20.9 million from Vima, RM13.1 million from Mekong and RM600,000 from DSM. Teh said these investments are critical to strengthening production capacity and operational efficiency to enable them to meet the growing demand for flour and flour-related products in both Malaysia and Vietnam. 'We are encouraged by the strong performance in our flour business in these key markets, and we believe that this growth trajectory is sustainable. The investments in automation and capacity expansion are timely, positioning us to capture future demand. 'On the flour mills, as you can see, our operations in Malaysia and Vietnam are performing very positively. As we grow capacity to meet market demand, we also aim to be cost-efficient. I believe we are on the right track.' Teh added that MFM's flour plant in northern Vietnam is operating near full capacity which prompted the board to approve a new 500-tonne-per-day mill to support future demand. 'Since it's maxed out, and the Vietnam economy – pending everything moves well – is still projecting an 8% growth rate, we see prospects for these two investments.' MFM's Vietnam flour operations posted over RM2 billion in revenue in 2024, contributing RM250 million in profit. 'We are encouraged by the strong performance in our flour business in these key markets, and we believe that this growth trajectory is sustainable. The investments in automation and capacity expansion are timely, positioning us to capture future demand,' Teh said. He reaffirmed MFM's long-term optimism for both its flour and poultry businesses, citing continued investments in infrastructure and technology as key to strengthening the group's competitive edge. 'Our commitment to automation, capacity expansion, and infrastructure upgrades reflects our goal of becoming a leading staple foods supplier in the countries where we operate, while driving sustainable growth for the group,' he added.
The Star
19-05-2025
- Business
- The Star
Malayan Flour Mills allocates RM215mil capex for FY25
KUALA LUMPUR: Malayan Flour Mills Bhd (MFM) has allocated RM215 million in capital expenditure (capex) for the financial year ending Dec 31, 2025 (FY2025). Of the total, the company will channel RM160 million to its poultry integration segment, with RM100 million earmarked for expanding and upgrading farming infrastructure, including the construction of parent farms and hatcheries, said executive deputy chairman and managing director Teh Wee Chye. The remaining RM60 million will go towards improvement works at existing farms to boost productivity and supply chain efficiency, he said. The RM160 million investment will be jointly funded by MFM and its partner in a 51:49 ratio. In May 2021, MFM formed a joint venture with meat processor and marketer Tyson Foods for its poultry segment. The partnership leverages Tyson's global network, proprietary technology and market reputation to increase sales, access export markets and improve operational efficiency. Meanwhile, the flour and grain trading segment will invest RM55 million to expand capacity and improve efficiency across key markets in Malaysia and Vietnam. "This includes RM20 million for automation at our flour mills in Lumut and Pasir Gudang to reduce manual labour, enhance efficiency and ensure consistent product quality,' Teh said at a press conference after the group's 65th annual general meeting today. In Vietnam, Teh said the company will invest RM34 million to scale operations. Of this, RM21 million will go towards expanding capacity and upgrading its northern Vietnam plant, while RM13 million is allocated for building flour silos and blending facilities in the southern region. "These strategies enable us to meet the growing demand for flour and flour-related products in both Malaysia and Vietnam,' he added. Commenting on the price-fixing investigation involving its joint venture company, Dindings Poultry Development Centre Sdn Bhd, MFM chief financial officer Alan Yau Tee Peng said the hearing has started but remains ongoing. "The next session is scheduled for end-June. We will go through the process and await the tribunal's decision,' he said. Yau said the matter is still at an early stage, adding: "We believe we have not committed any of the alleged violations made by the Malaysia Competition Commission (MyCC), and we stand by our position.' "Even in the worst-case scenario, we strongly believe the RM70 million fine is erroneous,' he added. MFM has completed a state-of-the-art poultry processing plant with a slaughtering capacity of 280,000 birds per day, expandable to 340,000 birds. Its processed poultry products are sold under the Ayam Dindings, Ayam Fiesta, Jimat Fiesta and DeliHous brands. - Bernama
Barnama
19-05-2025
- Business
- Barnama
Malayan Flour Mills Allocates RM215 Mln CAPEX For FY2025
REGION - CENTRAL > NEWS Chairman of Malayan Flour Mills Berhad, Datuk Oh Chong Peng (centre) poses for a photo during the Annual General Meeting press conference of Malayan Flour Mills Berhad today. Also present were Executive Deputy Chairman cum Managing Director, Teh Wee Chye, and Chief Financial Officer of Malayan Flour Mills Berhad, Alan Tee Peng. KUALA LUMPUR, May 19 (Bernama) -- Malayan Flour Mills Bhd (MFM) has allocated RM215 million in capital expenditure (capex) for the financial year ending Dec 31, 2025 (FY2025). Of the total, the company will channel RM160 million to its poultry integration segment, with RM100 million earmarked for expanding and upgrading farming infrastructure, including the construction of parent farms and hatcheries, said executive deputy chairman and managing director Teh Wee Chye. The remaining RM60 million will go towards improvement works at existing farms to boost productivity and supply chain efficiency, he said. bootstrap slideshow The RM160 million investment will be jointly funded by MFM and its partner in a 51:49 ratio. In May 2021, MFM formed a joint venture with meat processor and marketer Tyson Foods for its poultry segment. The partnership leverages Tyson's global network, proprietary technology and market reputation to increase sales, access export markets and improve operational efficiency. Meanwhile, the flour and grain trading segment will invest RM55 million to expand capacity and improve efficiency across key markets in Malaysia and Vietnam. 'This includes RM20 million for automation at our flour mills in Lumut and Pasir Gudang to reduce manual labour, enhance efficiency and ensure consistent product quality,' Teh said at a press conference after the group's 65th annual general meeting today. In Vietnam, Teh said the company will invest RM34 million to scale operations. Of this, RM21 million will go towards expanding capacity and upgrading its northern Vietnam plant, while RM13 million is allocated for building flour silos and blending facilities in the southern region. 'These strategies enable us to meet the growing demand for flour and flour-related products in both Malaysia and Vietnam,' he added.
